Attention: Hacker Group Stole $1 Million In Cryptocurrency!

A group of scammers who have carried out several targeted attacks in the past few weeks have drawn attention. Because these people have successfully taken over at least eight Twitter accounts belonging to the leading names of the crypto money industry. Here are the details…

Cryptocurrency hackers take action

The compromised accounts were then used to promote phishing scams, resulting in the theft of nearly $1 million worth of cryptocurrencies. Blockchain analyst ZachXBT is watching these events closely and sheds light on the intricate details of the ongoing frenzy. Known for his keen eye on blockchain-related activities, ZachXBT recently took to Twitter to expose the disturbing trend. In a detailed thread published on June 9, ZachXBT disclosed that it had discovered a number of wallets linked to phishing scams linked to compromised accounts.

While the primary method of hacking appeared to be SIM swapping, there were indications that some accounts may have been stolen via a Twitter admin panel, raising concerns about potential internal security vulnerabilities. Among the victims of this hacking spree were prominent personalities such as Pudgy Penguins founder Cole Villemain, famous DJ and NFT collector Steve Aoki, and Bitcoin Magazine editor Pete Rizzo. The scammers even targeted Peter Schiff, a critic of cryptocurrencies and an ardent advocate of gold. He used his account to promote a dubious link to tokenized gold in the decentralized finance space, as we’ve also reported as Kriptokoin.com.

Twitter failed

ZachXBT expressed concern over the slow response times of Twitter’s support desk, which allows fake tweets to persist for several hours and in some cases even days. This delay has undoubtedly contributed to the success of the scams and the loss of funds from unsuspecting victims. The blockchain detective highlighted the importance of using security keys as a more secure alternative to SMS-based two-factor authentication, and urged Twitter security to conduct a thorough investigation into each incident.

One particularly notable account hack uncovered by ZachXBT involved OpenAI’s Chief Technology Officer Mira Murati. This incident underscores the indiscriminate nature of these attacks, which target not only individuals within the cryptocurrency community but also influential figures in the broader tech industry. The latest wave of hacking Twitter accounts once again reminds us that the challenges faced by cybercriminals continue. Despite efforts to improve security measures, scammers continue to exploit vulnerabilities in various online platforms. This demonstrates the need for continued vigilance and improvement in security protocols.